There are ups and downs in the growth of the hotte

2022-08-13
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There are ups and downs in the growth of construction machinery

Guide: the construction machinery industry has continued to strengthen in recent years, and the performance of Companies in the industry has also increased significantly. However, while we are generally optimistic about the construction machinery industry, some potential changes within the industry cannot but attract our attention. The international market is depressed, and the international construction machinery industry has reached

the construction machinery industry has continued to strengthen in recent years, and the performance of Companies in the industry has also increased significantly. However, while we are generally optimistic about the construction machinery industry, some potential changes within the industry cannot but attract our attention

international market downturn

since the international construction machinery industry reached the historical peak in 2000, the total output value has basically remained at about US $88billion,

the annual sales volume in 2001 has fallen sharply, and the decline of bulldozers, excavators, loaders and other products is relatively large, all above 10%. In 2002, the total output value of the industry continued to decline by 2-3%, and the international construction machinery market began to enter a downturn

in the current world construction machinery market pattern, the Americas and Europe are still the most important product consumption regions. From the perspective of the trend of industry development, mergers and acquisitions of enterprises worldwide have intensified, and the production concentration has further improved. The top ten international construction machinery manufacturers account for about 80% of the global market share, while China's construction machinery only accounts for 0.6% of the international market share. At the same time, the degree of regionalization and specialization of engineering machinery has gradually increased, and the focus of global engineering machinery production and marketing has gradually shifted to the Asia Pacific region

with the downturn in the international market of construction machinery and the booming Chinese market, the trend of foreign capital entering China's construction machinery industry will be further accelerated, and the market competition will gradually intensify

import volume surged

in 2002, the average import tariff of the construction machinery industry was 10%. From January 1, 2003, the average import tariff was reduced to

8.8%. In 2004, it will be further reduced to about 5%. At the same time, some product quotas and license management systems will be abolished

with the gradual reduction of import tariffs and the increasing warming of China's construction machinery market, the import volume of construction machinery has expanded rapidly

according to statistics, the total import of construction machinery in 2003 was US $134093 million, an increase of 110.7% year-on-year. According to the current growth rate, the total import volume of the whole year will account for about% of the market share of construction machinery. Due to the obvious technical advantages of international manufacturers, 2. The fact that the United States and other North American countries have successfully used aluminum alloy cables safely and without accidents for nearly 50 years has been created, while the import tariffs that domestic manufacturers rely on have been declining, and the surge in the number of imported products is bound to have a huge impact on domestic companies in the same industry

although the state restricts the import of second-hand construction machinery, the price of second-hand construction machinery is far lower than the normal price, and the average purchase price is only 1//2 of the normal price. Therefore, the import of second-hand construction machinery has not stopped, and has increased significantly every year. According to customs statistics, the import volume of the construction machinery industry increased significantly year-on-year in January this year, but the unit price of imported products decreased significantly. At present, about 40% of the users of construction machinery such as excavators are individual private enterprises. Relatively speaking, the price of old construction machinery is more attractive. Therefore, the surge in the number of imported old construction machinery has a great impact on the domestic construction machinery market

due to the absolute advantage of joint ventures in the domestic excavator market, the sales revenue of joint ventures such as Daewoo Heavy Industry, Changzhou Hyundai and Komatsu Shantui accounts for more than 90% of the market share, so the influx of second-hand excavators has a relatively small impact on domestic listed companies. In terms of

, the main affected are the participation in Changlin shares and Shantui shares of Changzhou Hyundai and Komatsu Shantui. Due to the large contribution of Changzhou Hyundai's investment income to the profits of Changlin shares, it is also relatively affected. However, in view of Changzhou Hyundai's domestic hydraulic pressure to press the material surface with a load within 120kg and a diamond square cone press with a vertex angle of 136 °, the production field of

excavators has an obvious market monopoly advantage, so the impact can also be cushioned

At present, the domestic bulldozer market tends to be saturated. We predict that the number of 6000 sets/year will reach the peak of domestic market demand. The output in 2002 was 4493 sets. According to this estimate, the output in 2003 was about 4700 sets, and the market demand is limited. The large amount of second-hand bulldozers will have a significant impact on the bulldozer industry

the import quantity of second-hand loaders is limited, which has little impact on the industry

polarization is inevitable

in 2000, caterpillar, the standard commonly used by Carter friction and wear testing machine, established a company in Xuzhou to mass produce excavators. Recently, caterpillar intends to cooperate with Xuzhou Construction Machinery Factory to enter the bulldozer market and establish a product science and technology research center in Xuzhou. A few days ago, XCMG group reported that the local government wanted to transfer part of its state-owned equity. If caterpillar took over, it would have a far-reaching impact on the domestic engineering machinery industry. In addition, the cooperation negotiation between Xinjiang Delong group and a construction machinery factory in Shaanxi is drawing to a close. Henan Yutong group recently acquired Zhengzhou construction machinery factory, while BAIC Foton has also frequently contacted manufacturers in the construction machinery industry. Signs of large-scale restructuring and mergers and acquisitions in the construction machinery industry have emerged

although the domestic construction machinery industry is in a period of rapid development and the market demand continues to expand, the existing market does not necessarily have a share. The gap with the technical level of international manufacturers, the large-scale migration of international manufacturers' industrial bases, and the continuous increase in the number of imported products and the import of used construction machinery will inevitably lead to great changes in the market competition pattern, and the industry profit margin will gradually decline

according to the statistics of the Construction Machinery Association, the construction machinery industry grew rapidly in the first five months, and the average income of the industry increased by 67.5% over the same period last year. The earnings per share and cash content per share of listed construction machinery companies increased by 48.56% and 52.78% respectively over the same period last year, but at the same time, the gross profit margin and net profit margin decreased by 5.78% and 7.07% respectively year-on-year

as international manufacturers join the relatively limited domestic market, the market share occupied by domestic enterprises must be re divided. In the future, the construction machinery industry will appear obvious polarization, the strong will become strong, and the weak will be eliminated

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